Economics viewpoint + Mortgage lending figures | The Guardianhttps://www.theguardian.com/business/series/economicsmonday+mortgage-lending-figures
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Lack of housing, not credit, is root of property problemhttps://www.theguardian.com/business/2013/jul/15/lack-housing-credit-property-problem
A closer look at year-on-year figures shows that the market is still some way from another crash, despite Help to Buy fears<p>Farquhar Road, a leafy address in Birmingham's Edgbaston suburb, has homes selling for north of £1.5m. In Glasgow's West End a five-bedroom Victorian terrace can command a seven-figure price tag, while there are hundreds of streets in London where a family will struggle to secure a purchase without £2m to spend.</p><p>It seems to confirm that Britain is experiencing a house price boom that will, in a couple of years, lead to another spectacular crash.</p> <a href="https://www.theguardian.com/business/2013/jul/15/lack-housing-credit-property-problem">Continue reading...</a>Housing marketHouse pricesPropertyHousingCommunitiesSocietyMortgage lending figuresMortgagesReal estateBusinessMoneyMortgage ratesBanks and building societiesHelp-to-buy schemeFirst-time buyersEconomicsSun, 14 Jul 2013 23:00:00 GMThttp://www.theguardian.com/business/2013/jul/15/lack-housing-credit-property-problemPhotograph: Peter Macdiarmid/Getty ImagesHundreds of London streets are off-limits to families with less than £2m to spend on buying a house. Photograph: Peter Macdiarmid/Getty ImagesPhotograph: Peter Macdiarmid/Getty ImagesHundreds of London streets are off-limits to families with less than £2m to spend on buying a house. Photograph: Peter Macdiarmid/Getty ImagesPhillip Inman2013-07-14T23:00:00ZPreventing another housing bubble must be Bank of England's priorityhttps://www.theguardian.com/business/2012/apr/08/housing-market-bubble-bank-of-england
Three boom-busts in 40 years are testimony to the failure of trying to control the housing market through interest rates alone<p>Easter is traditionally when the housing market comes out of hibernation – and if ever there were a time when it might be imagined activity would be buoyant, it would be this year. The Bank of England has pegged the official short-term interest rate at 0.5% for more than three years and is now part-way through a third round of asset purchases, which will in total boost the money supply by £325bn.</p><p>For the past four decades, cheap credit has been the catalyst for property booms. That was the case in the early 1970s, when Threadneedle Street abandoned direct controls on lending and then watched helplessly as prices rose by 50% in 1973. A second bubble followed 15 years later as a result of a toxic mix of financial deregulation, cuts in interest rates and the pre-announced abolition of double mortgage relief. In the years leading up to the financial crisis of 2007, borrowers could secure loans at high multiples of their income with few questions asked.</p> <a href="https://www.theguardian.com/business/2012/apr/08/housing-market-bubble-bank-of-england">Continue reading...</a>EconomicsBusinessBank of EnglandQuantitative easingHousing marketHousingSocietyHouse pricesMoneyMortgage lending figuresMortgagesMortgage ratesUK newsCommunitiesSun, 08 Apr 2012 14:55:27 GMThttp://www.theguardian.com/business/2012/apr/08/housing-market-bubble-bank-of-englandPhotograph: Frank Baron/GuardianThere is no evidence that quantitative easing is prompting mortgage lenders to grant more home loans. Photograph Frank Baron for the GuardianPhotograph: Frank Baron/GuardianThere is no evidence that quantitative easing is prompting mortgage lenders to grant more home loans. Photograph Frank Baron for the GuardianLarry Elliott economics editor2012-04-08T14:55:27ZHouse prices have nowhere to go but downhttps://www.theguardian.com/business/2010/aug/30/house-prices-first-time-buyers
With first-time buyers unable to get on the ladder, the property market is shuddering to a halt<p>Only a mug bets against rising house prices in Britain. This is a small island that has a rising population, tight planning controls and a tax system that favours property. Demand tends to run well ahead of supply, and that means bricks and mortar always seems a good investment.</p><p>Well, call me a mug if you like, but house prices are overpriced and have to fall. <a href="http://www.theguardian.com/business/2010/jul/26/hometrack-survey-house-prices-fell" title="Guardian: House prices down 0.1%">Activity is weak</a>, with the number of new mortgage applications running at less than half their pre-recession levels. First-time buyers, according to a survey from Rightmove out today, account for only 20% of the market, about half the level needed to lubricate housing chains. A separate snapshot of the market from Hometrack says that sagging prices are more than the customary seasonal lull.</p> <a href="https://www.theguardian.com/business/2010/aug/30/house-prices-first-time-buyers">Continue reading...</a>EconomicsHousing marketReal estateMortgage lending figuresQuantitative easingBusinessHouse pricesPropertyMortgage arrearsMortgagesBorrowing & debtMortgage ratesFirst-time buyersMoneySun, 29 Aug 2010 23:05:57 GMThttp://www.theguardian.com/business/2010/aug/30/house-prices-first-time-buyersPhotograph: Luke Macgregor/ReutersWith the average house price well over £150,000, property ownership is out of reach for millions of people in Britain. Photograph: Luke Macgregor/ReutersPhotograph: Luke Macgregor/ReutersWith the average house price well over £150,000, property ownership is out of reach for millions of people in Britain. Photograph: Luke Macgregor/ReutersLarry Elliott2010-08-29T23:05:57ZMortgage data points to slowdownhttps://www.theguardian.com/business/2007/oct/01/lendingfigures.houseprices
<a href="http://business.guardian.co.uk/houseprices">More on house prices</a><p>The number of new mortgage approvals in Britain fell to their lowest level since April in August as higher interest rates took their toll of buyer confidence, according to figures released today.</p><p>Data from the Bank of England showed that even before the impact of the run on the Northern Rock last month, there were signs that the boom in property was coming to an end. The number of approvals fell from 115,000 in July to 108,000 in August, the lowest total since April's 108,000.</p> <a href="https://www.theguardian.com/business/2007/oct/01/lendingfigures.houseprices">Continue reading...</a>BusinessHouse pricesMoneyMortgagesPropertyHousing marketBorrowing & debtMortgage lending figuresMon, 01 Oct 2007 08:26:16 GMThttp://www.theguardian.com/business/2007/oct/01/lendingfigures.housepricesLarry Elliott2007-10-01T08:26:16Z